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In what ways will the
mortgage services you provide offer financial benefits to me throughout my
home ownership and set you apart from other mortgage brokers and lenders?
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How will you insure that I
will be reasonably protected and informed throughout the loan process?
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Will you disclose to me all
fees and rebates that you or your company expect to earn as a result of
placing my mortgage, whether those fees or rebates are paid directly or
indirectly by me?
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Is it your company policy
to disclose sales price and contract terms to the appraiser you hire to
evaluate the property on my behalf? How will this disclosure or
non-disclosure benefit or harm my financial interests?
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Will you explain in terms I
can understand the purpose of all my closing
expenses and who receives them, as well as an explanation of the
fee amounts you expect to earn?
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Typically, what possible
property defects, or adverse environmental conditions, do you require be
repaired or cured as a condition or loan approval and /or loan funding?
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What suggestions about the
various available loan programs would you recommend to help insure the best
possible equity realization from a subsequent resale of my property?
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How far in advance of
closing will you furnish me with a closing (HUD-1) statement?
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How can you assure me that
I can avoid paying "junk fees" and unnecessary add-on loan
expenses?
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What information are you
required to provide other parties, such as the property owner and the real
estate agents about my loan, loan application, appraisal or lender repair
requirements?
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If I pay for a copy of my
credit report and appraisal report, how quickly will you furnish copies of
those items to me?
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If I make the decision not
to use your company, will I get my original loan package back, when will I
receive it, and what expenses that I pay in advance will and will not be
refundable?
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Who can pay a portion or
all of my closing
expenses and are there any limitations on how much they can pay?
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Will you attend the closing
of my purchase transaction to answer additional questions about my mortgage
obligations and the loan
documents I am required to sign?
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If your actions harm me in
any way, will your company reimburse all fees to me that you and your
company receive as a result of placing my loan, regardless of who paid those
fees?
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If we have a dispute
concerning our business matters together, will you require me to mediate
these differences between us?
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Will you furnish me with a
list of past borrowers for reference purposes?
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Do you intend to sell my
loan and, if so, how will that process benefit or harm me when I later
expect services from you concerning my loan?
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How can you help me
maximize the tax deductions of my closing expenses?
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Under what circumstances
will you recommend that I refinance my mortgage to reduce costs and/or to
enhance my equity position?
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What subsequent financial
or other planning services will you provide me after the loan closing and
when will those services be offered?
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| Will you aggressively
work to help me avoid sub-prime interest loans?
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